Exxon Mobil Corporation Leads 6 Dividend Stocks Boosting Payouts

Exxon rewards patient shareholders with a 6.5% income boost

Rising bond yields and concerns over peaking earnings were enough to cause the S&P 500 Index to largely stagnate last week. However, a handful of leading businesses expressed optimism in the form of dividend boosts.

These 6 notable dividend stocks increased their payouts over the last week. They included two energy companies, a popular discount warehouse, and a major technology business.

Exxon Mobil Corporation (NYSE:XOM) increased its quarterly dividend by 7%, raising its payment to 82 cents per share from 77 cents. Shareholders of record as of May 14 will receive their higher dividends on June 1 from the integrated oil major. XOM shares will be ex-dividend on May 11.XOM Dividend Yield: 4.2%

Johnson & Johnson (NYSE:JNJ) announced a 7% raise to its quarterly dividend, increasing it from 84 cents per share to 90 cents. Shareholders of record as of May 29 will receive their higher dividends on June 12 from the diversified pharma and healthcare company. JNJ shares will be ex-dividend on May 25.JNJ Dividend Yield: 2.8%

Magellan Midstream Partners, L.P. (NYSE:MMP) raised its quarterly dividend by 2%, increasing it from 92 cents per share to 93.75 cents. Shareholders of record as of May 8 will receive dividends from the midstream energy partnership on May 15. The company’s shares trade ex-dividend on May 7.MMP Dividend Yield: 5.7%

Costco Wholesale Corporation (NASDAQ:COST) moved its quarterly dividend higher by 14%, increasing it from 50 cents per share to 57 cents. The membership warehouse will pay its higher dividend to shareholders of record as of May 11 on May 25. COST shares trade ex-dividend on May 10.COST Dividend Yield: 1.2%

International Business Machines (NYSE:IBM) increased its quarterly dividend by 5%, raising its payment to $1.57 per share from $1.50. Shareholders of record as of May 10 will receive dividends from the diversified technology giant on June 9. The company’s shares trade ex-dividend on May 9.IBM Dividend Yield: 4.3%

Paychex, Inc. (NASDAQ:PAYX) announced a 12% increase to its quarterly dividend, raising it from 50 cents per share to 56 cents. Dividends will be paid from the provider of payroll and human resources services on May 24 to shareholders of record as of May 9. PAYX shares trade ex-dividend on May 8.PAYX Dividend Yield: 3.3%

As of this writing, Brian Bollinger was long Johnson & Johnson, Exxon Mobil, Costco, and Paychex.